The Canadian edition of an international set of sustainability investment disclosure standards will be officially released in December, according to the Canadian Sustainability Standards Board.
The organization was tasked with creating a set of sustainability investment standards in Canada based on those created by the International Sustainability Standards Board. The two new disclosure metrics — CSDS 1 and CSDS 2 — will be voluntary and are designed to offer consistency, comparability and transparency to sustainability reporting for institutional investors to consider.
According to a press release, the organization received responses from 3,900 individuals and more than 700 organizations through roundtables, small group discussions, surveys and response letters. The CSSB said it received responses from representatives across governments, regulators, policymakers and participants from academia, advocacy groups, standard setters and framework developers.
In a press release, Bruce Marchand, interim chair at the CSSB, said the input helped them make a decision that balanced an alignment with the international sustainability disclosure standards and the Canadian public interest.
“As we finalize CSDS 1 and 2, we remain committed to supporting the implementation of these standards, in a manner that is practical, adaptable and reflective of the evolving sustainability landscape.”
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